Daily Elliott Wave Video Analysis — May 8, 2013

The daily Elliott Wave analysis video for May 8, 2013, is available here. The video will always remain accessible via the current link for future reference. You can use it to check the accuracy of our Elliott Wave forecasts or for your self-education in such analysis.

It is recommended to watch the video in a fullscreen mode.


AUD/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.0221 price level. So, as long as price stay below 1.0221 resistance level, look for sell trades. If bullish candlestick closes above 1.0221 critical resistance level then down trend is going to end.

EUR/JPY
Trend is bullish in 1 hour chart. Intraday support is present at 127.47 price level. So, as long as price stay above 127.47 support level, look for buy trades. If bearish candlestick closes below 127.47 critical support level then up trend is going to end.

EUR/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.3241 price level. So, as long as price stay below 1.3241 resistance level, look for sell trades. If bullish candlestick closes above 1.3241 critical resistance level then down trend is going to end.

GBP/USD
Trend is bearish in 1 hour chart. Intraday resistance is present at 1.5519 price level. So, as long as price stay below 1.5519 resistance level, look for sell trades. If bullish candlestick closes above 1.5519 critical resistance level then down trend is going to end.

USD/CHF
Trend is bullish in 1 hour chart. Intraday support is present at 0.9365 price level. So, as long as price stay above 0.9365 support level, look for buy trades. If bearish candlestick closes below 0.9365 critical support level then up trend is going to end.

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